Santander has warned customers they could lose £175 today - unless they take action. The high street giant has confirmed that it will be ending its £175 switcher offer today, with switch requests accepted until 11.59pm TONIGHT.
Confirming the end of the deal on 20 June 2024, Santander said: "The bank has seen strong demand in switching requests since the switcher offer was launched on 14 May 2024." Santander has been offering £175 to both new and existing customers when they switch.
Customers must switch their current account to either a Santander Edge current account, Santander Edge Up current account, or Private current account v2. Applications received to switch accounts to Santander before the deadline will be eligible for the switcher incentive, even if the switch completes after the offer is withdrawn.
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To qualify for the £175 payment customers must complete the full switch, using the Current Account Switch Service (CASS), within 60 days of requesting the switch process (including the closure of the old account) and pay in at least £1,500 within 60 days of requesting the switch process. (This does not need to be in one payment).
Customers should also then set up two active direct debits within 60 days. Direct debits to fund Santander, cahoot, or Cater Allen savings accounts do not count for the purposes of this offer. Santander also explains customers must continue to hold the qualifying current account on the day the payment is made.
Customers who have previously benefited from a Santander switcher incentive are not eligible for this latest offer, Santander also said. Those eligible for the payment will get paid within 90 days of the switch process, the high street banking giant has said.
Existing Santander Edge current account, Santander Edge Up current account, and Private current account customers, can also use the Current Account Switch Service (CASS) to transfer their balances and direct debits from bank accounts with other providers into their existing Santander current account to benefit from the offer.
